Frequently Asked Questions

What is SureDeposit?

SureDeposit is a surety bond. Under the surety bond, SureDeposit promises to pay the landlord in the event the resident does not uphold the financial obligations in the lease agreement or return the apartment in good condition. The resident is then required to reimburse SureDeposit for any damages, loss of rent and related expenses that SureDeposit paid to your landlord.

The three parties to a surety bond are:

OBLIGEE — Landlord

PRINCIPAL — Resident

SURETY — Insurance Company

The SURETY promises to pay the OBLIGEE in the event that a PRINCIPAL does not uphold his or her financial obligations.
SureDeposit is not insurance. SureDeposit is the program name used by the surety, American Bankers Insurance Company of Florida (ABIC). ABIC is an Assurant, Inc. company.

How does SureDeposit work?

SureDeposit is based on a simple concept: instead of requiring a full security deposit, the landlord can offer the residents the option to pay a modest one-time non-refundable payment for enrollment in the surety bond program. If the resident meets his/her financial obligations (i.e. paying rent and maintaining the leased property) they are under no further obligation to SureDeposit. If the resident does not meet their obligations, they are required to reimburse the Surety for the amount owed of their rental and financial obligations. Additionally, if the amount owed exceeds the bond amount (such as unpaid rent or damages), the resident will owe the landlord the excess amount. If no claim is made against the bond, the one-time bond payment covers the resident for the life of their residency in the participating community, no matter how many years they reside in the apartment.

How do I sign up?

SureDeposit is only available at participating communities. Once you accurately complete a SureDeposit enrollment form and pay the required one-time, non-refundable payment, you are automatically enrolled when your new lease is approved.

What happens at the end of my lease term?

After you pay your last month’s rent and honor the other conditions of your lease, you simply move out without any further obligations. If you have not fulfilled your commitments under the lease, the surety must reimburse the landlord and you (the resident) will be required to reimburse the surety for damages, loss of rent and related expenses.

How long is the landlord protected by SureDeposit?

SureDeposit is purchased for the benefit of the landlord and is intended to remain in force for the duration of your residency. However, if your apartment community is sold, we cannot warrant that the bond will remain in force, and you may be required by the new landlord to post a security deposit upon lease renewal in accordance with applicable landlord/tenant law.

What happens if I move to another Apartment in this Apartment Community?

Your SureDeposit participation can move with you to a similar new unit in the same community or to any other community that your landlord utilizes the SureDeposit program, provided both you and the landlord agree to do so, as long as you have not caused a claim. If you move to a unit that requires a higher security deposit, please see your landlord for the option to purchase an additional limit for your bond.

Are there any other costs for SureDeposit?

No – your one-time payment is all you pay, if you fulfill your lease obligations. If you do not fulfill your lease obligations, and the Surety is required to pay money to the landlord on your behalf, you will be required to reimburse the Surety for damages, loss of rent and related expenses, such as legal and collection fees.

Do I get my payment back at the end of my lease?

No – your payment is non-refundable.

What happens if I owe rent, fees, or cause damage to my apartment upon move-out?

SureDeposit will be obligated to pay your debt (only up to the bond limit amount) to the landlord and then we will collect reimbursement from you for our payment to the landlord.

If I owe fees, rent or damages, can I pay it directly to the landlord?

Yes. That is the best thing to do. Once the outstanding debt is paid to the landlord, you will have no obligation to the Surety.

Under what circumstances may I qualify for a refund?

You may qualify for a refund if, within five (5) calendar days of signing a Bond Enrollment Form, your lease is lawfully terminated, or if other arrangements satisfactory to the landlord are made. For example, if you placed a cash security deposit with the landlord in lieu of the SureDeposit bond, or if you did not enter into the lease agreement and never took possession of the apartment, then you qualify for a refund.

How may I obtain a refund?

To expedite your refund, please have the landlord email us the request on your behalf with your mailing address. If the landlord is not able to send the request on your behalf, send a request in writing to: SureDeposit Operations, P.O. Box 979135, Miami, FL 33197. They can email us at clientsupport@assurant.com.

What if I have more questions about SureDeposit?

Please call us at 877.277.4811, Monday through Friday, 8:30 a.m. to 8 p.m. ET to speak to a licensed agent or email us at clientsupport@assurant.com.

What documents are required to submit a SureDeposit claim?

The following documents are required to submit a claim to SureDeposit:

Signed SureDeposit Enrollment Form

Complete disposition form, S.O.D.A., or letter listing the amount due and how the amount was determined

Copy of Original Rental Application

Copy of the Lease (Send ONLY the First Page and Signature Page of Lease)